Due to the sustained high levels of global scrap prices over the past week, CIS-based pig iron producers have increased their export quotations by $10/mt on the upper end week on week to $360-390/mt FOB.
Additionally, a pig iron producer in the CIS region which offers low-priced pig iron to the international markets has pulled out of the market for the short term after concluding a deal for a large tonnage to be shipped to Asia. This has made it easier for other CIS-based pig iron producers to increase their export prices.
SteelOrbis has also been informed that an Ukrainian mill has concluded a sale of pig iron to Italy at $415/mt CFR, while current offers from Ukraine to Italy are at $390-415/mt CFR. Meanwhile, ex-CIS pig iron offers to Turkey are at $385/mt CFR.